VP Payments Compliance

Work Arrangement: 

***After the initial training period, this is a hybrid role, working onsite in either our Wilmington, DE office.***

This role involves expertise in Anti-Money Laundering (AML) and sanctions compliance within the payments industry, complemented by a strong foundation in data analytics focused on banking, anti-money laundering, and sanctions-related metrics. The position requires managing and executing The Bancorp's strategic position in the payments, sponsor bank, and fintech marketplace. The VP Payments Compliance will work with a globally dispersed support team and key stakeholders outside the organization. This role involves interacting with a broad spectrum of business partners, including Challenger banks, Fintech firms, Card Networks (VISA, Mastercard), and payment industry leaders, to advise on the development, execution, and operation of products and services. Responsibilities include liaising with regulatory agencies and presenting the Bank's achievements during reviews, visitations, and audit meetings.

Essential Functions

1. Develops close working relationships with business leaders and other stakeholders to advance a culture of compliance within the organization.
2. Prepares reports to be used by various oversight and governance committees to understand BSA risk and other related activities and trends.
3. Assists with drafting, updating, maintaining AML and Sanctions policies, programs, and procedures.
4. Coordinates regulatory exams and independent audits.
5. Implements and maintains processes to ensure the Bank, program managers, processors, and other agents comply with Federal, State, and network rules and regulations and Bank policies/procedures.
6. Ensures that all BSA/AML and other compliance monitoring aspects of card programs are appropriately complete.
7. Advises lines of business during the development of new products and services and evaluate BSA/AML & Sanctions risk level.
8. Tracks BSA/AML and Sanctions industry developments and maintain up-to-date knowledge of regulatory changes, existing laws, and regulations impacting the organization.
9. Collaborates and assists with the BSA/AML and Sanctions Risk Assessments.
10. Prepares reports to be used by various oversight and governance committees to understand BSA risk and other related activities and trends.
11. Assists BSA Officer in ensuring that business practices are aligned with Banks' risk tolerance and appetite for BSA/AML and Sanctions risks.
12. Reviews, analyzes, and makes risk-based decisions on disputes regarding Client and relationships and account closures.
13. Performs other duties as assigned.

Education/Experience Requirements

• Undergraduate degree in a related field or an equivalent combination of training and experience.
• A minimum of 8 plus years of successful and relevant experience in BSA/AML and Sanctions.
• 3+ years of experience in a senior payments compliance role at a bank, card network, or fintech.

Preferred Qualifications

• Master’s/JD Degree.
• APRP, CAMS, or CRCM Certification is preferred.
• Strong data literacy, including proficiency in analyzing and interpreting complex datasets to drive decision-making.
• Advanced skills in SQL for querying, managing, and manipulating data in relational databases.
• Strong ability to synthesize quantitative and qualitative data to generate insights and recommendations.
• Deep knowledge and experience with best practices in payment technologies and corresponding regulations.
• Knowledge of AML typologies and emerging risks in financial crime and money laundering.
• Previous experience working with internal auditors, financial regulators, and card networks, including audits and examination response and remediation of identified issues.
• Experience applying AML guidance in non-traditional bank settings to address unique risks posed by Fintech firms and Challenger banks.
• Problem-solving and decision-making skills, with the ability to analyze complex information to identify the critical issue and drive resolution.
• Expert knowledge of regulations and compliance best practices related to BSA/AML, OFAC, CIP, and KYC.
• Demonstrated ability to build strong relationships, as well as management and influencing skills.

This job will be open and accepting applications for a minimum of five days from the date it was posted.

Working at The Bancorp Bank, N.A. and Benefits Information: click here

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The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.

Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.

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